Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1887-06-24
rae Producsion Of Precious
Metals.

The report Of the Director OF the Mint
= the production Of the precious metals
a The United States for the calender
year 1885 L In press. The director esti
mates the production of the United
0tatss to have been: Gold, So. 900, 900;
oilvsr, 81, O00. 900. The value of the
aiIver IN the above estimate Is calculated
atDthe coming rate Of silver in
United States silver dollars, namt-
n el.29 per ounce fine. The
reduction Of silver was 30, AS, 3l2
Inc ounces Of the commercial value at
the average price of silver during the
year namely, about 81 per fine ounce)
q o30. 1876, $40. The production OF gold
shown an increase over the prior year of
q. 2OO, 900. The production of silver is
e1Iehtly less than in 1885, but tabulat.
q stassmsnt shows that the production
d mlver In the United States has large.
y increased from 1860, when it was
-, 2O0, 900, to $5l, 900, 900 in 1856.
rs years product of gold has approx.
lnntod the maximum Of the last seven
yoars-ths product of 1850, which
foached $50 .0O0. 900.
Colorado continues to be the largest
proaucer Of the precious metals in the
1hs United States. the value of its pro-
duotion Of gold and silver having been
ever go. OO0, 900 during the past year.
California yields second place to Mon
1nna with . production OF nearly
81, 000, 600 against SIG. COO, 600 by the
fcgmer. Texas, for the first time, is
a11ed to the list Of producing States
With e20O, 900 in silver.
The annual supply of silver from the
uninss Of the world has largely increased
= tbs last fourteen years-the period
ooyered by the marked decline in the
mnrkst price of silver-having doubled
Gnos 1872; that is from S62, 0OO, 900 in
lat year to $l24, OOO, 900 in 1886.
During the calender year 1856 the
changes in the price Of silver were very
marked. Opening January at As Is l6
peacs per ounce, British standard, the
huetustions were light until April, when
sommenosd rapid decline which con-
tinusd until june 81, when the price Of
silver reached AZ pence, remaining 1T that
price until Aug. 10 when an advance took
p1ncs which continued until November
roth, when the price reached AZ pence,
Int remained ct that point only short
Vine. The closing quotation on Deem
bsr 81, was 464 pence. The average
pGios for the year was 7,347 pence,
oquivAlent to 80, 465 pence per ounce,
6ns. The price of silver ct the present
tlns h AZ pence per ounce, British
Standard, equivalent to s0956 per
canoe, fine.
The value Of the gold deposited st the
u1nts Of the United States during the
year 1888 was $79, 057, 8lS. of which over
II, 900, 900 consisted Of foreign bullion
0nd over 1900, 900 of foreign coin. The
dsposlts and purchases of silver amo united
- Csc, 0e6, 070. The coinage executed
q the mints consisted of SO. 739. SOC
psscss, of the face value of SCI, 375, 43S.
The number Of silver dollars coined was
81 AZ. 066, on which-the seignorage was
q, O35, O6l.48.
The director estimates the stock Of
coin in the United States January J.,
1857, to have been in round figures,
Gold. $500. 000. 900; silver, 1924, 900. 900;
total, 1884. 600, 900. In addition to the
stock of coin the government owned
bullion in the mint awaiting coinage;
Gold, $8l, 400, 600; silver, $1,000, 900;
total, SIS, 400. 600. A total metallic
stock ON January l, 1887. of gold, $64l,
100. 600; silver, 1891, 500, 600; total,
oo73, 200, 600. -Bradstreet.